Phoenix & Southwest CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
Canadian Fund Acquires Two Southwest MF Assets for $155M
Toronto-based Starlight U.S. Multi-Family (No. 1) Value-Add Fund acquired two properties located in Round Rock, TX and Phoenix, comprising 943 multifamily residential units for an aggregate purchase price of roughly $154.8 million. Proceeds from the funds IPO and new first mortgages totaling $105 million were used to complete the acquisition.
The properties include:
- The Landing at Round Rock (pictured), a 583-unit property with 44 three-story apartment buildings on a 33.2-acre site located north of downtown Austin at 7711 O’Connor Road.
- Spectra South, a 360-unit apartment property with 19 three-story buildings located on a 11.3-acre located north of downtown Phoenix at 20425 North 7th St.
The Round Rock property will be managed by Austin-based Roscoe Properties, Inc., while the Phoenix asset will be managed by Alliance Residential Company.
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Sale/Acquisition

